Legacy, Life Insurance & Philanthropy

BEQUEST

The bequest is a provision made by will for the benefit of a natural or legal person. It takes effect only after the death of the will writer and may be changed at any time.

You may write the bequest yourself, but it is better to use a notary or a heritage advisor to ensure that your will is legally compliant to ensure your last wishes are carried out properly.

At the time of death, all or part of your property will be transferred according to your provisions. Throughout your life you have the guarantee that you can avail of your property. In order to nominate your heirs, by means of a will, you will be able to choose from the two most used forms of writing: the holographic will and the authentic will.

THE WILL

It is a hand-written will written by you. For security reasons, you are recommended to deposit it at the notary office and have it registered in the Central File of the Last Will Provision.

It is a form of will that provides more legal certainty. In fact, it is the undisputed format. The testator dictates his wishes to the notary, in the presence of two witnesses, or a second notary.

Our advice: if you want to make a bequest to the Action Against Hunger Association, a will must be written. Care must be taken to deposit it at the notary and possibly send a copy of the latter to the headquarters of the Association located at 14/16 Boulevard de Douaumont CS 80060 75854 Paris Cedex 17.

SEVERAL TYPES OF LEGACY:

When you indicate on your will that you wish to bequeath all of your property to a body of recognised value or to a natural person, it is a universal legacy. It concerns the universality of your assets.

When you want to bequeath a part of all your assets: a share (half, one third of the assets…), a percentage or a very specific part (for example: all the furniture or all the buildings), this is a legacy under a universal title.

When you want to bequeath a specific asset of your inheritance: your jewels, your apartment, your car of collection, it is about a legacy under a particular title. The legacy for a particular purpose is a specific asset bequeathed to one or more determined persons.

All assets may be bequeathed:

• Money, bank accounts (current accounts or savings books)
• Securities (securities, shares, bonds, SICAVs, mutual funds, etc.)
• Life insurance
• Furniture, jewellery, works of art
• Real estate (house, apartment, land…)
• Copyright, industrial patents

When it comes to an individual gift, which is transferred simply by the material handover, without any formality, by the donor of the given asset.

LIFE INSURANCE

A life insurance policy is often used as a capital transmission tool (life insurance in the event of death), but it is also a real savings tool (life insurance in case of life) . You can register Action Against Hunger as the beneficiary of your contract.

Whatever the purpose, a life insurance policy can build or grow a capital.

The person who takes out the life insurance policy and chooses the beneficiaries in case of death of the insured.

The person who assumes the risk lies: the one whose death triggers the payment of the capital or the annuity.

In case of death, the person designated by the subscriber to receive the capital of the policy.

BENEFICIARY CLAUSE AND ACCEPTANCE

When taking out a life insurance policy, you are requested to appoint one or more beneficiaries in the event of death. The wording of this clause must not be neglected.

Our advice: You have complete freedom in the designation of beneficiaries; life insurance is not governed by the obligations of hereditary reserve. They are not subject to any management fees. Action Against Hunger contacts your life insurance company directly to benefit from the capital.

For all inquiries, please contact us in complete confidence.

PHILANTHROPY

MANUAL DONATION

You can make an ad hoc manual donation by cheque, bank transfer or online payment, but you can also choose to provide the Action Against Hunger association with regular support by staggering the payment of your donation at a frequency that suits. It will then be made by direct debit that you are free to modify or delete at any time.

DONATION IN FULL PROPERTY

Donations are a simple way to transfer, during your lifetime, part of your assets to Action Against Hunger. It must be formalised at a notary’s office and is irrevocable. There are fiscal advantages, recognised as of public value, the Action Against Hunger association is exempt from transfer duties. There are several types of donations: a freehold donation consists of donating an asset or a painting, a collector’s car or other types of assets immediately.

TEMPORARY LIFE INTEREST DONATION

Temporary life interest donation makes it possible to offer the use and the usufruct of an asset over a given period of 3 to 10 years, with the advantage of temporarily removing this property from your capital wealth. During this period, you benefit from very attractive tax benefits. If it is a real estate property, the asset is not included in your tax base.

Our advice: As with any contract, a donation assumes, in order to be valid, the capacity of the donor. In order to be valid, the donation must executed through a notarial deed. The need for a notary is however optional when it comes to a manual donation, which is transferred by the simple material delivery, without any formality, by the donor of the asset in question.

BARE PROPERTY DONATION

A bare-property/reversionary donation makes it possible to transfer ownership of a property while retaining its use for oneself or for a third party. This donation entitles the donor to tax benefits including no property tax liability of the former owner who has become an usufructuary. The bare owner is not able to avail of use of the property and does not regain full ownership until the usufruct is extinguished.

If you want more information on the different types of donations and their specificities, do not hesitate to contact us.

Your dedicated contact at Action Against Hunger:

Leila Bahloul Head of Liberalities and Philanthropy
Tel: +33 (0) 1 70 84 71 49
Mail: lbahloul@actioncontrelafaim.org

Gwendoline Gurnot
Liberalities and Philanthropy Officer
Tel: +33 (0) 1 70 84 72 67
Mail: ggurnot@actioncontrelafaim.org